Boyd Gaming Corp. sold the former Eastside Cannery casino site in Las Vegas for nearly $29 million after Lennar Corp. received approvals for a new housing development there. The sale of the 29.5-acre plot was completed on September 10 for $28.8 million to a New York investment firm, which secured an option for Lennar to purchase the land for residential use.
Last month, Clark County approved Lennar’s plans for a community with 279 lots, which will include two-story single-family homes, parks, and a trail. This move follows the demolition of the Eastside Cannery, a casino that opened in 2008 but closed during the pandemic and was ultimately imploded in March.
Boyd had acquired the land for $45 million prior to its demolition plans, marking a significant decrease in value with the recent sale. The Eastside Cannery originally had over 300 hotel rooms, a casino, and various amenities but failed to reopen after the COVID-19 lockdowns due to a lack of market demand.
The article details the site’s transformation from a hotel-casino to residential development, reflecting broader changes in the Las Vegas landscape and housing needs as the population grows.
